Sensex gains 67 points

Sensex closed in the positive territory for the second day in row with the HSBC study on Indian manufacturing sector registering a growth for the first time in eight months. The benchmark index gained 67 points to 21,277 in a volatile trade. The index opened higher at 21,280 against the previous close of 21,210. It made a high of 21,333 and low of 21,176.

The total turnover on BSE was up at Rs 2,336 crore against Rs 2,195 crore registered on Tuesday. Foreign institutional investors bought shares worth a net Rs 185.61 crore on Tuesday, as per provisional data from the stock exchanges.

The NSE Nifty was up 31 points at 6,329.

The HSBC India Composite Output Index, which maps both services and manufacturing, stood at 50.3 in February, slightly higher than 49.6 in January, indicating a fractional rate of expansion.

Private sector output in India expanded for the first time in 8 months in February as slump in the services sector moderated and manufacturing grew at a stronger pace, the index indicated.

A few capital goods stocks such as Crompton Greaves (up 2.08%), L&T (up 0.55%), Punj Lloyd (up 1.95%) and Siemens (up 3.17%) gained. However, BHEL fell marginally on profit booking. Thermax and ABB India hit 52-week highs and closed with a gain of 5 per cent and 10 per cent at Rs 748 and Rs 802.

State Bank of India, Canara Bank, Union Bank of India, Bank of India and Bank of Baroda gained between one per cent and six per cent after Finance Minister P Chidambaram today said bad loans worth Rs 18,933 crore were recovered between April and December, last year.

Punjab National Bank gained 4 per cent after the bank announced after market hours on Tuesday that it had sold its entire stake in Credit Information Bureau India to foreign institutional investor TransUnion International Inc.

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